IND240 Uncertainty Management in Projects

Themes:

• Introduction to project management and uncertainty
• Uncertainty dimension in projects
• Decisions under uncertainty
• Quantitative uncertainty analysis; costs, total economy, progress
• Qualitative uncertainty analysis
• Modeling uncertainty
• Analysis Techniques - Monte Carlo simulation
• Analysis tools - examples
• Operational, proactive management of project uncertainty
• Value as a governing parameter

The course will have a strong foundation with examples from real projects.

Knowledge:

• Broad knowledge of the uncertainty dimension in projects, including decision-making under uncertainty.
• Insight into current methods and tools for uncertainty analysis and management; theory and practical application.

Skills:

• Can use relevant uncertainty analysis tools and techniques.
• Can interpret uncertainty analysis results and reports.

General Competence:

• Can conduct uncertainty analyses of varied projects alone and as a participant in a group.